Wells Fargo & Company Boosts Boston Scientific (NYSE:BSX) Price Target to $82.00

Boston Scientific (NYSE:BSX) had its price objective upped by Wells Fargo & Company from $72.00 to $82.00 in a report issued on Thursday morning, Benzinga reports. They currently have an overweight rating on the medical equipment provider’s stock.

A number of other research firms have also recently commented on BSX. Royal Bank of Canada upped their price target on shares of Boston Scientific from $70.00 to $78.00 and gave the stock an outperform rating in a report on Monday, April 15th. Mizuho raised shares of Boston Scientific from a neutral rating to a buy rating and lifted their price target for the company from $65.00 to $80.00 in a research note on Thursday, February 1st. TD Cowen increased their price objective on Boston Scientific from $65.00 to $77.00 and gave the stock an outperform rating in a research note on Thursday, March 7th. Oppenheimer lifted their target price on Boston Scientific from $58.00 to $68.00 and gave the company a market perform rating in a research report on Thursday, February 1st. Finally, Raymond James increased their price target on Boston Scientific from $67.00 to $73.00 and gave the stock a strong-buy rating in a research report on Thursday, February 1st. Three analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $75.09.

Boston Scientific Price Performance

Shares of NYSE:BSX opened at $73.17 on Thursday. The firm’s 50 day moving average price is $67.82 and its 200-day moving average price is $60.56. The company has a quick ratio of 0.82, a current ratio of 1.32 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $107.35 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 2.52 and a beta of 0.78. Boston Scientific has a twelve month low of $48.35 and a twelve month high of $74.39.

Boston Scientific (NYSE:BSX) last announced its quarterly earnings data on Wednesday, January 31st. The medical equipment provider reported $0.55 EPS for the quarter, beating the consensus estimate of $0.51 by $0.04. Boston Scientific had a net margin of 12.06% and a return on equity of 16.63%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period last year, the firm earned $0.45 EPS. Equities research analysts expect that Boston Scientific will post 2.32 EPS for the current year.

Insider Transactions at Boston Scientific

In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $65.86, for a total transaction of $899,779.32. Following the transaction, the chief financial officer now owns 271,542 shares in the company, valued at approximately $17,883,756.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Boston Scientific news, CFO Daniel J. Brennan sold 13,662 shares of Boston Scientific stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $65.86, for a total transaction of $899,779.32. Following the completion of the sale, the chief financial officer now owns 271,542 shares of the company’s stock, valued at approximately $17,883,756.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP John Bradley Sorenson sold 16,351 shares of the firm’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $69.30, for a total value of $1,133,124.30. Following the completion of the transaction, the executive vice president now owns 50,638 shares of the company’s stock, valued at $3,509,213.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,979 shares of company stock worth $3,418,529. Insiders own 0.50% of the company’s stock.

Institutional Trading of Boston Scientific

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC boosted its holdings in Boston Scientific by 6.8% in the third quarter. FMR LLC now owns 125,920,357 shares of the medical equipment provider’s stock valued at $6,648,595,000 after purchasing an additional 8,045,263 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Boston Scientific by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 125,449,802 shares of the medical equipment provider’s stock valued at $7,252,253,000 after purchasing an additional 1,681,454 shares during the period. Wellington Management Group LLP boosted its holdings in Boston Scientific by 5.9% during the third quarter. Wellington Management Group LLP now owns 42,076,529 shares of the medical equipment provider’s stock worth $2,221,641,000 after buying an additional 2,336,348 shares in the last quarter. Primecap Management Co. CA grew its position in Boston Scientific by 1.5% during the fourth quarter. Primecap Management Co. CA now owns 37,905,659 shares of the medical equipment provider’s stock valued at $2,191,326,000 after buying an additional 550,490 shares during the period. Finally, Morgan Stanley increased its holdings in Boston Scientific by 2.3% in the third quarter. Morgan Stanley now owns 21,200,339 shares of the medical equipment provider’s stock valued at $1,119,378,000 after buying an additional 481,891 shares in the last quarter. Institutional investors and hedge funds own 89.07% of the company’s stock.

About Boston Scientific

Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through two segments, MedSurg and Cardiovascular. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions, such as resolution clips, biliary stent systems, stents and electrocautery enhanced delivery systems, direct visualization systems, digital catheters, and single-use duodenoscopes; devices to treat urological conditions, including ureteral stents, catheters, baskets, guidewires, sheaths, balloons, single-use digital flexible ureteroscopes, holmium laser systems, artificial urinary sphincter, laser system, fiber, and hydrogel systems; and devices to treat neurological movement disorders and manage chronic pain, such as spinal cord stimulator system, proprietary programming software, radiofrequency generator, indirect decompression systems, practice optimization tools, and deep brain stimulation system.